Mann Brothers Limited - Limited company - abbreviated

REGISTERED NUMBER: 01927637 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2014

FOR

MANN BROTHERS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P S Mann

S S Mann

D S Mann

R G Singh

SECRETARY:

P S Mann

REGISTERED OFFICE:

Victoria House

44-45 Queens Road

Coventry

West Midlands

CV1 3EH

REGISTERED NUMBER:

01927637 (England and Wales)

ACCOUNTANTS:

LDP Luckmans

Victoria House

44-45 Queens Road

Coventry

West Midlands

CV1 3EH

FIXED ASSETS

Tangible assets

2

142,154

49,786

Investments

3

118,490

Investment property

4

450,000

710,644

618,276

CURRENT ASSETS

Stocks

552,150

499,651

Debtors

1,480,833

1,407,039

Cash at bank and in hand

124,100

41,642

2,157,083

1,948,332

CREDITORS

Amounts falling due within one year

1,463,385

1,408,866

NET CURRENT ASSETS

693,698

539,466

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,404,342

1,157,742

PROVISIONS FOR LIABILITIES

27,237

6,749

NET ASSETS

1,377,105

1,150,993

CAPITAL AND RESERVES

Called up share capital

5

21,000

Revaluation reserve

197,576

Profit and loss account

1,158,529

932,417

SHAREHOLDERS' FUNDS

1,377,105

1,150,993

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 1 May 2015 and were signed on its
behalf by:

P S Mann - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective April 2008).

Preparation of consolidated financial statements

The financial statements contain information about Mann Brothers Limited as an individual company

and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial

statements.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Unexpired Term of Lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in market value is transferred to a revaluation reserve.

In accordance with SSAP 19, certain properties are held for long term investment and are included in

the balance sheet at their open market values. The surplus or deficit on revaluation of such properties

are transferred to the investment property revaluation reserve. Depreciation is not provided on these

investment properties in accordance with SSAP 19. This policy represents a departure from the

Companies Act 2006 which requires depreciation to be provided on all fixed assets. The directors

consider that this policy is necessary in order that the accounts give a true and fair view because

current market values are of prime importance rather than the calculation of systematic annual

depreciation.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Fixed asset investments

Fixed asset investments are stated at cost less provision for diminution in value or at market value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

479,012

Additions

122,231

At 31 October 2014

601,243

DEPRECIATION

At 1 November 2013

429,226

Charge for year

29,863

At 31 October 2014

459,089

NET BOOK VALUE

At 31 October 2014

142,154

At 31 October 2013

49,786

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 November 2013

and 31 October 2014

118,490

NET BOOK VALUE

At 31 October 2014

118,490

At 31 October 2013

118,490

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Subsidiary

Sunburn Styles Limited

Nature of business: Distribution of garments

%

Class of shares:

holding

Ordinary

80.00

2014

2013

£

Aggregate capital and reserves

59,574

11,423

Profit for the year/period

234,151

186,825

Associated companies

Sunburns Apparel (India) Pvt.Ltd

Country of incorporation: India

Nature of business: Textiles

%

Class of shares:

holding

Ordinary

20.00

31.3.14

31.3.13

£

Aggregate capital and reserves

18,296

3,743

Loss for the year

-

(11,484

)

Jilin M&Y Garment Manufacturer Co. Ltd

Country of incorporation: China

Nature of business: Textiles

%

Class of shares:

holding

Ordinary

50.00

No financial information is available for this company.

Eastzwest (HK) Limited

Country of incorporation: China

Nature of business: Textiles

%

Class of shares:

holding

Ordinary

50.00

No financial information is available for this company.

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 November 2013

and 31 October 2014

450,000

NET BOOK VALUE

At 31 October 2014

450,000

At 31 October 2013

450,000

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

21,000

Ordinary

£1

21,000

Mann Brothers Limited - Limited company - abbreviated - 11.6

Mann Brothers Limited - Limited company - abbreviated - 11.6